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Last modified on 10/8/2015 10:04 AM by User.

Tags:
Set, Item, Price, Markup, %, Profit, Based, Cost

Set Item Price as Markup or % of Profit Based on the Item Cost

When you are adding new items, via Task 1 or 8 in the Inventory, or updating an item in Task 1, you can set the price of the item based on a Markup Percent or a Percent of Profit.

 

FI – Set % Profit:

At field 11 (Price 1) on the Item record, press the F1 key to set the Percent of Profit. The percent is based off of the Last Cost (field 8) on the item. 

  • For example, if Price 1 needs to be set at a 75% profit and the Last Cost is $100.00, then Price 1 will be $400.00.   It does this by taking the Last Cost ($100.00) and dividing it by .25 (100% -75%)
  • For example, if you want a 40% profit, the price would be $166.67.  It does this by taking the Last Cost ($100.00) and dividing it by .60 (100%- 40%).

 

 

F3 – Set Markup:

At field 11 (Price 1) on the Item record, press the F3 key to set the Markup Percent.  The markup is based off of the Last Cost (field 8) on the item.

  • For example, Price 1 should be a 75% markup and the Last Cost is $100, then Price 1 will be $175.00.  It does this by taking the Last Cost ($100.00) and multiplying it by .75 (75%), which is $75.00 and then this is added to the Last Cost of $100.00.
  • For example, if you want a 40% Markup, the price would be $140.00   It does this by taking the Last Cost ($100.00) and multiplying it by .40 (40%), which is $40.00 and then this is added to the Last Cost of $100.00

 

 

Note:  Fields 12 -19 (Price 2 thru Price 9).   These fields can be set by pressing the F2, on each field, and enter the percentage discount off of Price 1.  

  • For example, Price 1 is Retail of $50.00 and Price 2, for ‘good’ customers, or customers in a certain region, is sold at a 5% discount.  Press the F2 key at field 12 (Price 2) and enter 500 (for 5%) and Price 2 will be: $47.50.  It does this by taking Price 1 ($50.00) and multiplying it by .95 (100% - 5%).
  • If Price 3 is sold at a 20% discount, press the F2 key at field 13 (Price 3) and enter 2000 (for 20%) and Price 3 will be $40.00.  It does this by taking Price 1 ($50.00) and multiplying it by .80 (100%-20%).